Egypt’s Suez Canal Economic Zone (SCZone) integrates with China’s Belt and Road Initiative (BRI) that seeks to interconnect and boost global trade, said the Egyptian planning minister in a statement.
“SCZone’s function is fully integrated with China’s BRI to reinforce the international trade movement,” Hala al-Saeed told a conference held by the SCZone and the Organization for Economic Cooperation and Development.
The minister stressed that the SCZone will be an international logistic center, describing it as one of the major development projects in Egypt and the world.
“It has a pivotal role in increasing economic growth rates and creating more job opportunities in Egypt,” she emphasized.
Chinese industrial developer Tianjin Economic-Technological Development Area (TEDA) is currently developing a total area of 7.23 square km in the SCZone in Ain Sokhna district of Suez province, east of the Egyptian capital Cairo.
Several other Chinese firms are currently working on development and infrastructure projects nationwide in Egypt in various fields, including energy and construction.